Nextvoyage | Source: nextvoyage.app

Data plays a crucial role in shaping industries across the globe, this is especially true in the maritime sector where even small improvements from operational efficiency and data-driven decision-making can make a material impact on the bottom line. According to a recent study by the International Maritime Organization (IMO), the maritime industry accounts for approximately 90% of global trade by volume, making it essential for businesses to leverage advanced technology solutions to optimize operations and keep goods flowing smoothly across the globe.

One of the challenges for businesses in the maritime sector is the large amount of structured and unstructured data it generates from a variety of sources. This data holds immense potential for uncovering insights, however, without the right technology to process, analyze, and interpret this vast amount of information, the businesses struggle to unlock its full value.

To address this challenge, Mark Pith set up Nextvoyage Maritime Software in 2020, offering a comprehensive solution for modern freight and voyage management. Built on a cloud-based Software as a Service (SaaS) platform, it provides an end-to-end workflow designed for shipowners, operators, and commodity traders. 

It has collaborated with range of strategic partners to deliver cutting-edge integrations for maritime and freight management solutions. These partnerships include VESSELINDEX which provides vessel performance data such as speed and consumption benchmarks. Other notable collaborations are with Seaby Maritech, Chartworld, OrbitMI, and Signal Maritime, which integrate advanced data analytics and maritime intelligence to optimize operations.

The solution includes key features such as voyage estimation and planning, chartering, risk management, post-fixture operations, and voyage accounting. For example, NextVoyage simplifies chartering by providing a voyage estimator, allowing chartering specialists to make informed, profitable decisions. The use of the AtoBviaC distance table ensures reliable voyage estimates, while seamless management of cargo and vessel contracts enhances risk assessment and contract oversight within a single integrated system.

Nextvoyage | Source: nextvoyage.app

Another example is the Risk Management solution which not only provides automated reporting on freight and bunker trade positions but also supports hedging strategies through financial contracts like FFA and Bunker Swaps. In addition, it minimizes operational risks by implementing workflows and intelligent data validation. Similarly, Voyage Operations focuses on real-time monitoring and optimization of vessel activities, enabling precise bunker planning, ETA reporting, and informed decision-making for improved efficiency.

The Bigger Picture

Nextvoyage’s integrated approach addresses critical inefficiencies in maritime operations, bringing together key data points on one unified platform to enhance decision-making, reduce operational risks, and improve financial management. As the maritime industry continues to embrace digital transformation, solutions like Nextvoyage’s are poised to play a pivotal role in shaping the future of global shipping, driving efficiency, sustainability, and profitability.

Source:

Hardian. (n.d.). BKI Reliable | Homepage. https://www.bki.co.id/detailberita-12.html#:~:text=International%20shipping%20transports%20about%2090%20per%20cent,peoples%20and%20communities%20all%20over%20the%20world

Ministère de l’Europe et des Affaires étrangères. (n.d.). France and the International Maritime Organization. France Diplomacy – Ministry for Europe and Foreign Affairs. https://www.diplomatie.gouv.fr/en/french-foreign-policy/france-and-the-united-nations/france-and-the-united-nations/france-and-the-international-maritime-organization/#:~:text=Contents&text=The%20International%20Maritime%20Organization%20(IMO)%20is%20a%20specialized%20United%20Nations,and%20protecting%20the%20marine%20environment

Nextvoyage Maritime Software Pte. Ltd. (2024, July 19). Voyage Management and Freight Management System – Nextvoyage Freight and Voyage Management Software. Nextvoyage Freight and Voyage Management Software. https://www.nextvoyage.app/#home

O’Dwyer, R. (2023, February 22). AXSMarine makes Nextvoyage investment. Smart Maritime Network. https://smartmaritimenetwork.com/2023/02/22/axsmarine-makes-nextvoyage-investment/

World Bank Group. (2024). Sustainable Development in Shipping and Ports. In World Bank. https://www.worldbank.org/en/topic/transport/brief/sustainable-development-in-shipping-and-ports

Contributor      : Vanisa Andienisara

Reviewer         : Imam Buchari